Cash Purchases, where no Lender is involved, are less expensive and the closing can happen in a much shorter amount of time, assuming all parties are diligent and ready to go.
G&G Law, LLC charges a flat rate for attorneys fees of $600 on cash deals (a saving of $150 from closings with a Lender). We do our own recording and our own title run down, so there will not be extra charge for those fees.
We use an out sourced paralegal service, Professional Paralegal Services of CT, LLC, to handle our document prep. PPSCT charges a flat fee of $300 on cash deals (a savings of $100), plus $30 per FedEx. This fee includes copying fees.
We use Connecticut Attorneys Title Insurance Company, or CATIC, for all title relates services. They charge $195 for a 40 year chain of title search (minimum requirement) and also offer a full municipal records search, that identifies any violations or open permits with Town Hall, for an additional $155. Title Insurance, which is not require but strongly recommended when buying with cash, goes by value of the home and the amount of the loan, and a quote can be attained at CATICulator.com. Read more about title services here…
Recording Fees for the town to get the Deed and Mortgage onto the land records. The fees are $60 for the first page an $5 per additional page, per document.
You may also have costs such as inspections and appraisals, but since it is a cash deal, you are not required to have either one performed.